OPEC unlikely to be moved by $100 oil
By Simon Webb and Randy Fabi
VIENNA, March 3 (Reuters) - Oil prices of more than $100 a barrel are unlikely to sway OPEC ministers meeting in Vienna this week into raising output, which they say is more than adequate.
Consumers, led by top fuel burner the United States, have urged the Organization of the Petroleum Exporting Countries (OPEC) to produce more oil in an attempt to cool prices, which were trading at $101.63 by 0854 GMT
OPEC ministers have said prices have been driven by factors beyond their control, including a weak U.S. dollar and political tension, and not by any lack of oil.
Arriving in Vienna on Sunday, Libya's top oil official Shokri Ghanem reiterated he did not expect a change at Wednesday's meeting.
"It seems that things are going to be as is," Ghanem told reporters, echoing remarks he made last week.
Oil prices were supported on Monday as OPEC members Venezuela and Ecuador sent troops to their borders with Colombia.
Venezuela is also in dispute with U.S. oil major Exxon Mobil (XOM.N), which has won court orders freezing up to $12 billion of the country's assets.
OPEC's most influential member Saudi Arabia would not be drawn on the outcome of this week's meeting. Continued...




UK
US